Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2010 through 2015, Projected 2016 and 2017

CROP COSTS Department of Agricultural and Consumer Economics University of Illinois Revenue and Costs for Corn, Soybeans, Wheat, and Double-Crop Soybeans, Actual for 2010 through 2015, Projected 2016 and 2017 Department of Agricultural and Consumer Economics University of Illinois September 2016

Introduction Gary Schnitkey Department of Agricultural and Consumer Economics University of Illinois September 2016 This publication presents revenues and costs for producing corn, soybeans, wheat, and double-crop soybeans in three regions of Illinois: northern, central, and southern Illinois. Central Illinois is further divided into categories for high-productivity farmland and lowproductivity farmland. Divisions between high and low farmland productivity are made based on soil productivity ratings. Generally, farms with higher soil productivity ratings have higher yields. Between 2009 and 2014, corn yields on high productivity farmland averaged 181 bushels per acre while corn yields on low productivity farmland averaged 169 bushels. This publication includes ten tables: 1. Corn Revenue and Costs, Northern Illinois 2. Soybean Revenue and Costs, Northern Illinois 3. Corn Revenue and Costs, Central Illinois with High Productivity Farmland 4. Soybean Revenue and Costs, Central Illinois with High Productivity Farmland 5. Corn Revenue and Costs, Central Illinois with Low Productivity Farmland 6. Soybean Revenue and Costs, Central Illinois with Low Productivity Farmland 7. Corn Revenue and Costs, Southern Illinois 8. Soybean Revenue and Costs, Southern Illinois 9. Wheat Revenue and Costs, Southern Illinois 10. Double-Crop Soybean Revenue and Costs, Southern Illinois Each table shows revenues and costs for 2009 through 2014. These financial results are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Results for 2015 and 2016 are projections made based on expected yields, prices on futures exchanges, and input prices. All revenues associated with crop production are included in the tables. Revenues include crop revenue, Agricultural Risk Coverage (ARC) payments, Price Loss Coverage (PLC) payments, Average Crop Revenue Election (ACRE) payments, other government payments, and crop insurance payments. Crop revenue represents returns from marketed grain and equals yield times price per bushel. Price per bushel represents a market year average price that farmers received for grain. Crop insurance represents average indemnity payments from crop insurance. Non-land costs are divided into 1) direct costs costs that can be directly attributable to the production of the crop, 2) power costs costs generally related to machinery operations, and 3) overhead costs costs associated with general operation of the farm.

These costs are accrued so that they are associated with the year of production. For example, fertilizer costs for 2010 may have been incurred in 2009. Any fertilizer expense associated with 2010 production paid in 2009 is associated with 2010 production. Subtracting non-land costs from revenue yields operator and land return. This is the return remaining to pay for farmland and provide a return to the operator. In a cash rent situation, the payment for farmland is cash rent. If the operator and land return is $170 per acre and cash rent is $150 then the farmer return is $20 per acre. An average land costs is included in this publication. Land costs represent a charge for use of the land. In this publication, land costs equal the average cash rent paid by farmers to land owners. This data is obtained from the Nationally Agricultural Statistical Service. Other means of controlling farmland, such as owning farmland or share-renting farmland, could have different costs. Farmer return is then reported. Farmer return equals operator and land return minus land costs. This is the amount that farmers have to provide a return for unpaid labor, equity capital invested in the farm, and management. Farmer return is equivalent to net farm income per acre. Acknowledgments: Much of the data used in these budgets comes from the local Farm Business Farm Management (FBFM) Associations across the State of Illinois. Without their cooperation, information as comprehensive and accurate as this would not be available for educational purposes. FBFM, which consists of 5,500 plus farmers and 60 professional field staff, is a not-for-profit organization available to all farm operators in Illinois. FBFM field staff provides on-farm counsel with computerized recordkeeping, farm financial management, business entity planning and income tax management. For more information, please contact the State FBFM Office located at the University of Illinois Department of Agricultural and Consumer Economics at 217-333-5511 or visit the FBFM website at www.fbfm.org.

Table 1. Corn Revenues and Costs, Northern Illinois Yield per acre 174 177 143 204 208 194 208 195 Price per bu $5.03 $6.10 $6.75 $4.61 $3.91 $3.77 $3.30 $3.50 Crop revenue $875 $1,080 $965 $940 $813 $731 $686 $683 ARC/PLC or ACRE 0 0 0 0 38 55 20 0 Other gov't payments 23 23 23 21 0 0 0 0 Crop insurance proceeds 19 7 173 48 46 27 5 0 Gross revenue $917 $1,110 $1,161 $1,009 $897 $813 $711 $683 Fertilizers 118 158 200 199 174 159 130 118 Pesticides 44 47 57 60 65 60 60 60 Seed 95 97 110 118 123 125 123 120 Drying 19 21 18 29 34 28 28 28 Storage 6 5 4 5 7 5 5 5 Crop insurance 19 34 28 28 28 24 24 24 Total direct costs $301 $362 $417 $439 $431 $401 $370 $355 Machine hire/lease 17 18 16 19 20 18 18 18 Utilities 6 5 5 5 6 6 6 6 Machine repair 25 21 25 28 30 26 26 25 Fuel and oil 17 23 24 27 29 18 18 17 Light vehicle 2 2 2 2 2 2 2 2 Mach. depreciation 41 44 57 69 74 72 70 67 Total power costs $108 $113 $129 $150 $161 $142 $140 $135 Hired labor 12 18 17 18 19 19 19 18 Building repair and rent 7 11 11 9 10 8 8 7 Building depreciation 10 13 15 16 18 18 18 18 Insurance 9 7 9 13 9 11 11 11 Misc 11 9 9 8 10 9 9 9 Interest (non-land) 18 16 14 17 17 18 19 20 Total overhead costs $67 $74 $75 $81 $83 $83 $84 $83 Total non-land costs $476 $549 $621 $670 $675 $626 $594 $573 Operator and land return $441 $561 $540 $339 $222 $187 $117 $110 Land costs 188 222 247 262 265 252 242 222 Farmer return $253 $339 $293 $77 -$43 -$65 -$125 -$113 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

Table 2. Soybean Revenues and Costs, Northern Illinois Yield per acre 56 60 51 59 61 61 65 61 Price per bu $11.31 $12.71 $14.51 $13.21 $10.49 $9.18 $9.20 $9.10 Crop revenue $633 $763 $740 $779 $640 $560 $598 $555 ARC/PLC or ACRE 0 0 0 0 38 55 20 0 Other gov't payments 23 23 23 20 0 0 0 0 Crop insurance proceeds 5 4 25 5 4 7 4 0 Gross revenue $661 $790 $788 $804 $682 $622 $622 $555 Fertilizers 28 38 49 49 44 41 30 22 Pesticides 26 28 34 35 39 35 30 29 Seed 52 53 62 68 71 69 76 74 Drying 1 1 1 1 1 0 0 0 Storage 3 2 2 2 2 3 3 3 Crop insurance 13 23 19 19 19 13 13 13 Total direct costs $123 $145 $167 $174 $176 $161 $152 $141 Machine hire/lease 16 16 15 16 17 16 16 15 Utilities 5 4 4 5 5 5 5 5 Machine repair 23 18 24 24 26 22 22 18 Fuel and oil 16 21 23 23 24 15 17 15 Light vehicle 2 2 2 2 2 2 2 2 Mach. depreciation 26 26 49 60 63 62 80 57 Total power costs $88 $87 $117 $130 $137 $122 $142 $112 Hired labor 11 17 16 16 17 17 17 16 Building repair and rent 4 6 5 5 5 4 4 4 Building depreciation 5 7 8 8 9 9 9 8 Insurance 8 7 9 12 9 11 11 10 Misc 11 9 9 8 10 9 9 9 Interest (non-land) 15 13 13 14 14 15 16 17 Total overhead costs $54 $59 $60 $63 $64 $65 $66 $64 Total non-land costs $265 $291 $344 $367 $377 $348 $360 $317 Operator and land return $396 $499 $444 $437 $305 $274 $262 $238 Land costs 188 222 247 262 265 252 242 222 Farmer return $208 $277 $197 $175 $40 $22 $20 $16 Net farmer profit $136 $189 $112 $83 -$52 -$70 -$72 $16 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

Table 3. Corn Revenues and Costs, Central Illinois -- High Productivity Farmland, Yield per acre 168 174 126 197 231 200 231 200 Price per bu $5.07 $6.24 $6.93 $4.52 $3.76 $3.77 $3.30 $3.50 Crop revenue $852 $1,086 $873 $890 $869 $754 $762 $700 ARC/PLC or ACRE 0 0 0 0 4 45 20 0 Other gov't payments 24 24 24 22 0 0 0 0 Crop insurance proceeds 32 23 295 61 10 31 5 0 Gross revenue $908 $1,133 $1,192 $973 $883 $830 $787 $700 Fertilizers 122 159 200 193 171 166 125 113 Pesticides 44 50 49 66 67 66 66 66 Seed 95 96 108 114 120 118 116 113 Drying 22 19 16 24 28 15 15 15 Storage 13 8 7 8 12 14 14 14 Crop insurance 18 30 25 27 24 24 24 22 Total direct costs $314 $362 $405 $432 $422 $403 $360 $343 Machine hire/lease 8 8 10 11 12 12 12 12 Utilities 4 4 5 5 5 5 5 5 Machine repair 17 17 22 22 24 22 22 21 Fuel and oil 17 18 23 24 24 17 17 16 Light vehicle 2 1 2 2 2 1 1 1 Mach. depreciation 38 39 55 63 65 65 64 60 Total power costs $86 $87 $117 $127 $132 $122 $121 $115 Hired labor 13 14 14 16 16 17 17 16 Building repair and rent 4 5 8 6 6 5 5 4 Building depreciation 6 6 9 5 11 12 12 12 Insurance 8 8 9 10 10 10 10 10 Misc 8 8 8 8 9 8 8 8 Interest (non-land) 13 13 11 11 11 13 14 15 Total overhead costs $52 $54 $59 $56 $63 $65 $66 $65 Total non-land costs $452 $503 $581 $615 $617 $590 $547 $523 Operator and land return $456 $630 $611 $358 $266 $240 $240 $177 Land costs 215 248 270 290 293 278 268 245 Farmer return $241 $382 $341 $68 -$27 -$38 -$28 -$68 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

Table 4. Soybean Revenues and Costs, Central Illinois -- High Productivity Farmland, Yield per acre 60 56 50 58 64 66 71 61 Price per bu $11.47 $12.75 $14.66 $13.35 $10.67 $9.08 $9.20 $9.10 Crop revenue $688 $714 $733 $774 $683 $599 $653 $555 ARC/PLC or ACRE 0 0 0 0 4 45 20 0 Other gov't payments 24 24 24 22 0 0 0 0 Crop insurance proceeds 5 11 26 6 5 7 4 0 Gross revenue $717 $749 $783 $802 $692 $651 $677 $555 Fertilizers 42 55 68 65 58 56 32 23 Pesticides 27 31 39 40 41 40 40 39 Seed 61 62 69 73 77 76 76 74 Drying 1 1 1 1 1 1 1 1 Storage 6 4 4 4 7 8 8 8 Crop insurance 12 20 17 18 18 16 16 16 Total direct costs $149 $173 $198 $201 $202 $197 $173 $161 Machine hire/lease 7 8 9 9 10 11 11 10 Utilities 4 3 4 4 5 4 4 4 Machine repair 15 16 19 20 22 19 20 18 Fuel and oil 15 17 20 21 21 15 17 15 Light vehicle 1 1 1 1 2 1 1 1 Mach. depreciation 34 35 48 55 57 57 55 51 Total power costs $76 $80 $101 $110 $117 $107 $108 $99 Hired labor 12 14 13 15 16 16 16 15 Building repair and rent 4 4 6 5 5 4 4 4 Building depreciation 4 5 8 9 9 10 11 10 Insurance 8 8 9 10 10 10 10 10 Misc 8 8 8 8 9 8 8 8 Interest (non-land) 12 11 10 10 10 11 12 13 Total overhead costs $48 $50 $54 $57 $59 $59 $61 $60 Total non-land costs $273 $303 $353 $368 $378 $363 $342 $320 Operator and land return $444 $446 $430 $434 $314 $288 $335 $235 Land costs 215 248 270 290 293 278 268 245 Farmer return $229 $198 $160 $144 $21 $10 $67 -$10 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

Table 5. Corn Revenues and Costs, Central Illinois -- Low Productivity Farmland, Yield per acre 157 158 115 183 215 185 215 185 Price per bu $5.03 $6.21 $6.77 $4.51 $3.83 $3.82 $3.30 $3.50 Crop revenue $790 $981 $779 $825 $823 $707 $710 $648 ARC/PLC or ACRE 0 0 0 0 4 43 18 30 Other gov't payments 24 24 24 22 0 0 0 0 Crop insurance proceeds 32 23 295 61 10 31 5 0 Gross revenue $846 $1,028 $1,098 $908 $837 $781 $733 $678 Fertilizers 124 164 206 202 171 169 125 113 Pesticides 44 50 60 66 66 68 68 68 Seed 94 100 113 120 122 123 121 118 Drying 17 15 14 19 26 13 13 13 Storage 10 6 5 7 11 13 13 13 Crop insurance 21 28 26 26 26 22 22 20 Total direct costs $310 $363 $424 $440 $422 $408 $362 $345 Machine hire/lease 11 11 12 13 13 13 13 13 Utilities 5 5 6 5 6 6 6 6 Machine repair 21 20 24 25 25 24 24 23 Fuel and oil 19 20 24 24 24 16 18 17 Light vehicle 2 2 2 2 2 1 1 1 Mach. depreciation 37 40 53 62 65 67 64 60 Total power costs $95 $98 $121 $131 $135 $127 $126 $120 Hired labor 13 13 15 15 16 16 16 15 Building repair and rent 6 7 8 9 6 6 6 5 Building depreciation 8 9 11 11 12 13 13 13 Insurance 9 8 9 10 10 10 10 10 Misc 7 7 8 8 8 8 8 8 Interest (non-land) 11 16 14 14 13 13 14 15 Total overhead costs $54 $60 $65 $67 $65 $66 $67 $66 Total non-land costs $459 $521 $610 $638 $622 $601 $555 $531 Operator and land return $387 $507 $488 $270 $215 $180 $178 $147 Land costs 188 208 233 240 243 230 220 200 Farmer return $199 $299 $255 $30 -$28 -$50 -$43 -$54 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

Table 6. Soybean Revenues and Costs, Central Illinois -- Low Productivity Farmland, Yield per acre 54 52 47 53 61 61 66 55 Price per bu $11.43 $12.76 $14.46 $13.21 $10.51 $9.13 $9.20 $9.10 Crop revenue $617 $664 $680 $700 $641 $557 $607 $501 ARC/PLC or ACRE 0 0 0 0 4 43 18 0 Other gov't payments 24 24 24 22 0 0 0 0 Crop insurance proceeds 5 11 26 6 5 7 4 0 Gross revenue $646 $699 $730 $728 $650 $607 $629 $501 Fertilizers 35 46 59 55 49 49 32 2 Pesticides 28 32 38 38 22 43 35 34 Seed 49 52 60 55 64 65 77 75 Drying 1 1 1 1 2 1 1 1 Storage 4 2 2 2 4 4 4 4 Crop insurance 12 19 17 17 18 16 16 16 Total direct costs $129 $152 $177 $168 $159 $178 $165 $132 Machine hire/lease 10 9 11 11 11 11 11 10 Utilities 4 4 5 5 5 4 4 4 Machine repair 19 18 21 21 22 19 20 18 Fuel and oil 17 18 21 21 21 15 16 15 Light vehicle 2 1 2 2 2 1 1 1 Mach. depreciation 32 34 44 46 56 57 55 50 Total power costs $84 $84 $104 $106 $117 $107 $107 $98 Hired labor 13 13 14 14 15 16 16 15 Building repair and rent 4 5 6 6 4 4 4 4 Building depreciation 6 6 7 7 9 10 11 10 Insurance 9 8 9 9 10 10 10 10 Misc 7 7 8 8 8 8 8 8 Interest (non-land) 10 14 12 12 11 11 12 13 Total overhead costs $49 $53 $56 $56 $57 $59 $61 $60 Total non-land costs $262 $289 $337 $330 $333 $344 $333 $290 Operator and land return $384 $410 $393 $398 $317 $263 $296 $211 Land costs 188 208 233 240 243 230 220 200 Farmer return $196 $202 $160 $158 $74 $33 $76 $11 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

Table 7. Corn Revenues and Costs, Southern Illinois, Yield per acre 148 141 56 183 194 163 183 163 Price per bu $5.22 $6.39 $6.84 $4.69 $3.94 $3.85 $3.30 $3.50 Crop revenue $773 $901 $383 $858 $764 $628 $604 $571 ARC/PLC or ACRE 0 0 0 0 2 38 20 0 Other gov't payments 21 21 21 19 0 0 0 0 Crop insurance proceeds 13 41 532 41 7 35 5 0 Gross revenue $807 $963 $936 $918 $773 $701 $629 $571 Fertilizers 134 163 199 198 170 171 120 108 Pesticides 45 52 54 66 67 66 66 66 Seed 90 88 101 111 116 108 119 116 Drying 10 11 5 17 19 8 8 8 Storage 3 2 2 3 6 6 6 6 Crop insurance 15 20 22 24 24 19 19 18 Total direct costs $297 $336 $383 $419 $402 $378 $338 $322 Machine hire/lease 8 8 11 10 12 12 12 12 Utilities 4 5 5 6 6 7 7 7 Machine repair 23 26 26 30 27 28 28 27 Fuel and oil 20 24 29 29 28 20 18 17 Light vehicle 2 2 2 2 2 1 1 1 Mach. depreciation 47 50 59 67 71 74 69 65 Total power costs $104 $115 $132 $144 $146 $142 $135 $129 Hired labor 20 13 20 26 29 30 30 30 Building repair and rent 8 7 10 8 8 7 7 7 Building depreciation 9 9 14 16 17 19 19 19 Insurance 9 9 11 12 14 13 13 13 Misc 7 7 8 9 8 10 10 10 Interest (non-land) 13 16 14 12 13 14 15 16 Total overhead costs $66 $61 $77 $83 $89 $93 $94 $95 Total non-land costs $467 $512 $592 $646 $637 $613 $567 $546 Operator and land return $340 $451 $344 $272 $136 $88 $62 $25 Land costs 125 137 144 160 163 159 151 135 Farmer return $215 $314 $200 $112 -$27 -$71 -$89 -$111 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

Table 8. Soybean Revenues and Costs, Southern Illinois, Yield per acre 49 44 41 49 55 52 55 49 Price per bu $11.70 $12.86 $14.54 $13.43 $10.46 $9.11 $9.20 $9.10 Crop revenue $573 $566 $596 $658 $575 $474 $506 $446 ARC/PLC or ACRE 0 0 0 0 2 38 20 0 Other gov't payments 21 21 21 19 0 0 0 0 Crop insurance proceeds 7 29 67 17 5 24 4 0 Gross revenue $601 $616 $684 $694 $582 $536 $530 $446 Fertilizers 41 50 61 63 54 54 38 27 Pesticides 33 38 39 46 47 46 30 30 Seed 53 52 54 64 67 52 76 74 Drying 1 1 1 1 1 0 0 0 Storage 1 1 1 2 4 4 4 4 Crop insurance 10 14 14 16 18 13 13 13 Total direct costs $139 $156 $170 $192 $191 $169 $161 $148 Machine hire/lease 8 9 10 9 9 12 12 11 Utilities 5 4 5 6 4 6 6 6 Machine repair 22 20 24 28 21 26 27 27 Fuel and oil 19 19 22 27 21 18 16 16 Light vehicle 2 1 2 2 1 1 1 1 Mach. depreciation 45 48 56 64 67 69 65 61 Total power costs $101 $101 $119 $136 $123 $132 $127 $122 Hired labor 18 19 20 24 25 27 25 24 Building repair and rent 5 6 6 5 5 4 4 4 Building depreciation 5 5 8 9 10 11 11 10 Insurance 9 9 11 12 14 13 13 11 Misc 7 7 8 9 8 10 10 10 Interest (non-land) 13 13 14 13 13 14 15 16 Total overhead costs $57 $59 $67 $72 $75 $79 $78 $75 Total non-land costs $297 $316 $356 $400 $389 $380 $366 $345 Operator and land return $304 $300 $328 $294 $193 $156 $164 $101 Land costs 125 137 144 160 163 159 151 135 Farmer return $179 $163 $184 $134 $30 -$3 $13 -$34 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

Table 9. Wheat Revenues and Costs, Southern Illinois, Yield per acre 61 61 72 76 68 66 77 70 Price per bu $5.52 6.55 $7.13 $6.45 $5.50 $5.00 $3.70 $4.20 Crop revenue $337 $400 $513 $490 $374 $330 $285 $294 ARC/PLC or ACRE 0 0 0 0 20 38 20 0 Other gov't payments 21 21 21 0 0 0 0 0 Crop insurance proceeds 8 12 0 25 0 0 0 0 Gross revenue $366 $433 $534 $515 $394 $368 $305 $294 Fertilizers 92 109 103 105 106 110 80 65 Pesticides 12 19 22 27 34 28 28 28 Seed 40 41 44 47 51 42 41 41 Drying 1 1 0 1 1 1 1 1 Storage 1 1 1 1 1 1 1 1 Crop insurance 5 7 8 9 9 8 8 8 Total direct costs $151 $178 $178 $190 $202 $190 $159 $144 Machine hire/lease 12 12 17 18 15 14 14 14 Utilities 5 6 6 7 7 7 7 7 Machine repair 20 23 23 28 30 32 33 32 Fuel and oil 16 19 23 26 26 19 18 17 Light vehicle 2 2 2 2 2 2 2 2 Mach. depreciation 32 34 40 45 48 51 49 45 Total power costs $87 $96 $111 $126 $128 $125 $123 $117 Hired labor 15 10 15 16 16 15 13 13 Building repair and rent 8 7 7 8 8 8 8 8 Building depreciation 5 5 6 7 7 7 11 10 Insurance 7 7 9 9 9 9 9 9 Misc 6 6 7 7 7 7 7 7 Interest (non-land) 15 18 16 16 16 16 17 18 Total overhead costs $56 $53 $60 $63 $63 $62 $65 $65 Total non-land costs $294 $327 $349 $379 $393 $377 $347 $326 Operator and land return $72 $106 $185 $136 $1 -$9 -$42 -$32 Land costs 2 125 137 144 160 163 159 151 135 Farmer return -$53 -$31 $41 -$24 -$162 -$168 -$193 -$167 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017.

Table 10. Double-Crop Soybean Revenues and Costs, Southern Illinois, Yield per acre 30 36 17 32 44 34 32 33 Price per bu $11.70 $12.86 $14.54 $13.43 $10.46 $9.11 $9.20 9.1 Crop revenue $351 $463 $247 $430 $460 $310 $294 $300 ARC/PLC or ACRE 0 0 0 0 0 0 0 0 Other gov't payments 0 0 0 0 0 0 0 0 Crop insurance proceeds 0 4 12 8 5 6 0 0 Gross revenue $351 $467 $259 $438 $465 $316 $294 $300 Fertilizers 21 32 38 38 31 32 24 20 Pesticides 22 29 30 37 40 36 36 36 Seed 39 42 43 47 46 46 45 44 Drying 0 0 0 0 0 0 0 0 Storage 1 1 1 1 1 1 1 1 Crop insurance 3 4 4 5 5 4 4 4 Total direct costs $86 $108 $116 $128 $123 $119 $110 $105 Machine hire/lease 9 10 11 11 11 11 11 11 Utilities 5 4 5 5 5 5 5 5 Machine repair 24 22 26 26 28 27 27 26 Fuel and oil 16 16 19 21 21 21 21 20 Light vehicle 2 1 2 2 2 2 2 2 Mach. depreciation 22 23 27 28 30 30 30 28 Total power costs $78 $76 $90 $93 $97 $96 $96 $92 Hired labor 11 12 13 13 13 13 13 12 Building repair and rent 6 7 7 6 6 6 6 6 Building depreciation 3 3 5 5 5 5 5 5 Insurance 0 0 0 0 0 0 0 0 Misc 0 0 0 0 0 0 0 0 Interest (non-land) 7 7 8 7 7 7 7 8 Total overhead costs $27 $29 $33 $31 $31 $31 $31 $31 Total non-land costs $191 $213 $239 $252 $251 $246 $237 $228 Operator and land return $160 $254 $20 $186 $214 $70 $57 $72 Land costs 2 0 0 0 0 0 0 0 0 Farmer return $160 $254 $20 $186 $214 $70 $57 $72 1 Results for 2010 through 2015 are summarized from grain farms enrolled in Illinois Farm Business Farm Management. Projections are made for 2016 and 2017. 2 Land costs and farmer return are only applied to the wheat budget.